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Discounts are bad for your customers.
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The constant ones. Discounting. It trains them that only price (without context) is the decisive factor. Makes you think of how little you could go for and still make a profit (if any). Risks them to shit customer service. Since your margins are low, going the extra mile —or even care for after sales— for what they need as an extra will only seem like a high expense on your side. It makes you go for more effort (to get more sales), with the same result. Turns into a vicious loop of trying to beat everyone else based on the lowest price. And that never ends well. If you're going to do discounts, do them right.
It's all about balance. |
Rod Aparicio
Get one tip, question, or belief-challenge that just might change the way you market, to help your customers buy. A *daily* email for b2b founders on improving your business —without the bullshit.
The wrong focus. On customers that are not profitable. On products that no one needs. On numbers (revenue, sales), over profits. On people who just won't do the thing or put the work. Choosing is hard, yet simple. You've always known what you should do. Take that first next step and just start.
To deliver surprise you need to be comfortable with risk. No risk, and you'll be expected, predictable. And if you want to stand out in your market, predictability works in favor of your competitors. Awe them. Awe your customers.
During a conversation this past week, I heard that. That raising your prices 5X or 10X, or charging one client different (probably 10X more) from another is not fair. Or that it's wrong. What are your thoughts on that?